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04 Aug 2011 14:20


U.S.: Amid negative economic data, stock market having a really crappy day

  • 350+point dip in the Dow at one point today (ouch) source
  • » It’s becoming more and more apparent that we might be heading for a double-dip recession here. The Dow fell for eight days straight, only ending the losing streak yesterday — but it could fall steeply today. The new jobless numbers are mostly to blame for the weak market. There were 400,000 new unemployment claims in the week that ended July 30. That, in addition to a spreading debt crisis in Europe, has been enough to convince investors that the U.S. economy isn’t in a great spot right now, and it’s hurting our stock market bad.

01 Aug 2011 10:57


Biz: Why July’s manufacturing results singlehandedly deflated stocks today

  • 50.9% activity level; not really a good number source
  • » The worst result since July 2009: To explain what you’re looking at, this number represents manufacturing activity in July. Any number above 50 percent is growth. Good right? Well, in this case, not really, because the previous month was 55.3 percent. And earlier this year, it was above 60 percent for a few solid months. This number is another sign that the economy is starting to slow down again. This result was so bad that it deflated optimism about the debt deal on the stock market this morning.